QP Wealth Management LLC Makes New $1.26 Million Investment in First Trust Institutional Preferred Securities and Income ETF $FPEI

QP Wealth Management LLC acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF (NYSEARCA:FPEI) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 65,182 shares of the company’s stock, valued at approximately $1,264,000. First Trust Institutional Preferred Securities and Income ETF makes up 1.1% of QP Wealth Management LLC’s holdings, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AE Wealth Management LLC increased its holdings in First Trust Institutional Preferred Securities and Income ETF by 147.3% in the 3rd quarter. AE Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $53,000 after purchasing an additional 1,625 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of First Trust Institutional Preferred Securities and Income ETF in the 3rd quarter valued at about $107,000. Calton & Associates Inc. bought a new position in shares of First Trust Institutional Preferred Securities and Income ETF during the third quarter worth about $204,000. Advance Capital Management Inc. grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 18.6% in the 3rd quarter. Advance Capital Management Inc. now owns 13,234 shares of the company’s stock worth $256,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC grew its position in shares of First Trust Institutional Preferred Securities and Income ETF by 27.6% in the 2nd quarter. Capital Advisors Wealth Management LLC now owns 14,760 shares of the company’s stock worth $280,000 after acquiring an additional 3,196 shares in the last quarter.

First Trust Institutional Preferred Securities and Income ETF Price Performance

FPEI stock opened at $19.05 on Friday. The stock’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $19.40. First Trust Institutional Preferred Securities and Income ETF has a 12-month low of $17.81 and a 12-month high of $19.61.

First Trust Institutional Preferred Securities and Income ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were issued a $0.0855 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 5.4%.

First Trust Institutional Preferred Securities and Income ETF Company Profile

The First Trust Institutional Preferred Securities and Income ETF (FPEI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is actively managed to provide current income and total return by investing in global institutional preferred and income-producing debt securities. FPEI was launched on Aug 22, 2017 and is managed by First Trust.